Keeping Data Current

Welcome back to our series on maximizing Enterprise Project Portfolio Management (EPPM) data benefits. In our previous blogs, we’ve explored the power of project data, the journey from basic reporting to advanced analytics, the importance of data quality, ensuring data availability, and leveraging transactional history. Now, let’s dive into the crucial aspect of keeping your data current. 

Find the summary here.

The Importance of Keeping Data Current 

In the fast-paced world of infrastructure projects, having up-to-date data is essential for making informed decisions. Outdated data can lead to misinformed strategies, delays, and increased costs. For planners, schedulers, PMO leaders, and senior corporate managers, maintaining current data ensures that project performance is accurately tracked and that any issues are promptly addressed. 

Data Archiving: Strategies for Archiving Older Projects 

Archiving older projects is a necessary step to keep your data environment clean and efficient. However, it’s important to do this strategically to ensure that valuable historical data is preserved for future reference. 

1. Identify Data for Archiving: Determine which projects are complete and no longer active. These projects should be archived to free up space and resources. 

2. Establish Archiving Criteria: Set criteria for what data should be archived. This could include project completion date, project size, or relevance to current operations. 

3. Use Archiving Tools: Utilize software that offers robust archiving features. These tools can automate the archiving process, ensuring that data is stored securely and can be easily retrieved if needed. 

4. Regular Review: Periodically review archived data to ensure it remains relevant and accessible. This helps in maintaining a balance between current and historical data. 

   
   

Real-Time Data: Importance of Keeping Data Up-to-Date 

Real-time data is a game-changer for project management. It allows stakeholders to monitor project progress, identify potential issues early, and make timely decisions. 

1. Implement Real-Time Data Collection: Use tools and technologies that enable real-time data collection. This includes IoT devices, mobile apps, and cloud-based platforms that can capture data as it happens. 

2. Automate Data Updates: Automation is key to keeping data current. Where applicable implement systems that automatically update project data, reducing the risk of human error and ensuring accuracy. 

3. Integrate Data Sources: Ensure that all data sources are integrated into a single data flow. This provides a comprehensive view of project performance and eliminates data silos. 

4. Monitor Data Quality: Continuously monitor the quality of real-time data. Implement real-time monitoring tools that provide checks and balances to ensure that the data being collected is accurate and reliable. 

   
   

Technological Solutions: Tools That Help Maintain Current Data 

Several technological solutions can help infrastructure organizations keep their data current. Here are some tools and technologies to consider: 

1. Real-Time Monitoring Tools: Project Management systems monitoring tools offer features for real-time data collection and data validation automation. 

2. IoT Devices: Internet of Things (IoT) devices can collect real-time data from construction sites, providing insights into equipment usage, environmental conditions, and worker productivity. 

3. Cloud-Based Platforms: Cloud-based solutions enable real-time collaboration and data sharing among project stakeholders. 

4. Data Analytics Tools: Utilize tools that can analyze real-time data, providing visualizations and insights that help in decision-making. 

5. Mobile Applications: Mobile apps allow field workers to input data directly from the job site, ensuring that information is captured accurately and promptly. 

Best Practices for Keeping Data Current 

To ensure that your data remains current and valuable, follow these best practices: 

1. Regular Updates: Schedule regular updates for your data. This could be daily, weekly, or monthly, depending on the project’s needs. 

2. Training and Awareness: Train your team on the importance of keeping data current and how to use the tools available to them. 

3. Data Governance: Establish data governance policies that outline how data should be collected, updated, and maintained. 

4. Continuous Improvement: Continuously evaluate your data management processes and look for ways to improve them. This could involve adopting new technologies or refining existing workflows. 

5. Stakeholder Engagement: Engage all stakeholders in the process of keeping data current. Ensure that everyone understands their role and the impact of their actions on the overall project performance. 

   
   

Practical Exercise 

Study your monitoring needs, Implement a real-time data collection tool for your projects in flight. Identify the areas where data is not updated regularly and not kept up to date affecting the quality of the decisions made. Monitor its impact on decision-making and project outcomes.

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Conclusion 

Keeping data current is a critical component of effective project management in the infrastructure industry. By implementing strategic archiving, leveraging real-time monitoring, and utilizing data quality solutions, you can ensure that your data remains accurate, relevant, and valuable. This not only improves project performance but also enhances decision-making and ultimately leads to better project outcomes. 

Stay tuned for our next blog, where we’ll explore how to discover hidden opportunities in your project data. Until then, keep your data current and make it work harder for your organization! 

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